Sandvik (OTCMKTS:SDVKY) Shares Gap Down – Time to Sell?

Sandvik AB (OTCMKTS:SDVKY)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $42.20, but opened at $39.11. Sandvik shares last traded at $39.53, with a volume of 7,524 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have commented on SDVKY. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a research note on Thursday, June 18th. Morgan Stanley lowered Sandvik from an “overweight” rating to an “equal weight” rating in a report on Thursday, March 12th. Nordea Equity Research raised Sandvik to a “hold” rating in a research report on Wednesday, April 15th. The Goldman Sachs Group reiterated a “sell” rating on shares of Sandvik in a report on Thursday, April 9th. Finally, Zacks Research cut Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Sandvik currently has a consensus rating of “Hold”.

Sandvik Trading Down 2.6%

The stock’s 50 day simple moving average is $40.57 and its two-hundred day simple moving average is $39.44. The stock has a market capitalization of $49.02 billion, a PE ratio of 30.77, a PEG ratio of 1.37 and a beta of 1.50. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.96 and a quick ratio of 1.06.

Sandvik (OTCMKTS:SDVKY) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.43 billion. Sandvik had a net margin of 12.16% and a return on equity of 16.92%. On average, sell-side analysts expect that Sandvik AB will post 1.66 EPS for the current year.

Institutional Trading of Sandvik

An institutional investor recently raised its stake in Sandvik stock. GAMMA Investing LLC raised its holdings in shares of Sandvik AB (OTCMKTS:SDVKY) by 17.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,704 shares of the industrial products company’s stock after purchasing an additional 1,298 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 as of its most recent filing with the Securities & Exchange Commission. 0.74% of the stock is owned by hedge funds and other institutional investors.

Sandvik Company Profile

Sandvik (OTCMKTS: SDVKY) is a global engineering group headquartered in Sandviken, Sweden, with roots dating back to 1862 when it was founded by Göran Fredrik Göransson. The company designs, manufactures and services advanced products and solutions for the mining and construction industries, metalworking and material technology markets. Sandvik serves customers worldwide with a broad portfolio of industrial products, equipment and aftermarket services.

Sandvik’s core activities span three broad areas: metal-cutting and machining solutions, mining and rock excavation equipment, and specialty materials and components.